Kinross Gold Co. (TSE:K) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have earned an average rating of “Buy” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$16.70.

A number of research firms have recently commented on K. Canaccord Genuity Group lowered their price objective on Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating for the company in a research note on Friday, September 13th. Eight Capital lifted their price objective on Kinross Gold from C$15.00 to C$16.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. National Bankshares lifted their price objective on Kinross Gold from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus lifted their target price on Kinross Gold from C$14.50 to C$18.00 in a research report on Monday, October 21st.

Insiders Place Their Bets

In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 4,500 shares of Kinross Gold stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of C$12.31, for a total transaction of C$55,395.00. In other Kinross Gold news, Senior Officer David C. Shaver sold 4,663 shares of Kinross Gold stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$13.17, for a total transaction of C$61,411.71. Also, Senior Officer Claude J.S. Schimper sold 4,500 shares of Kinross Gold stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$12.31, for a total value of C$55,395.00. In the last 90 days, insiders sold 21,163 shares of company stock valued at $273,407. 0.26% of the stock is owned by company insiders.

Kinross Gold Price Performance

K opened at C$14.83 on Friday. The stock’s 50 day simple moving average is C$13.23 and its 200 day simple moving average is C$11.81. The company has a debt-to-equity ratio of 31.89, a current ratio of 1.27 and a quick ratio of 1.11. Kinross Gold has a 1 year low of C$6.46 and a 1 year high of C$14.95. The firm has a market cap of C$18.24 billion, a price-to-earnings ratio of 27.46, a PEG ratio of -0.60 and a beta of 1.24.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be given a $0.041 dividend. The ex-dividend date of this dividend is Thursday, November 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.11%. Kinross Gold’s payout ratio is 29.63%.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.